webfact Posted June 30, 2023 Share Posted June 30, 2023 Foreign buyers will fuel growth in Thailand’s property market during the second half of this year but domestic buyers have not fully regained their purchasing power due to unfavourable factors, real estate appraisal and consultancy agencies say. Thailand’s economy has shown signs of improvement thanks to foreign purchasing power, particularly since China’s reopening, and the country’s tourism sector as well as selected businesses are experiencing a resurgence and growth. The Ministry of Finance’s Fiscal Policy Office predicts Thailand will welcome 29.5 million tourists in 2023, earning the country 1.3 trillion baht in revenue. However, rising interest rates, inflation and political uncertainties are still hindering growth in the property sector. The Real Estate Information Center (REIC) of the Government Housing Bank reports that the number of condominium transfers by foreigners across the country increased by 79.2% to 3,775 units, while the value of these transfers rose by 67.6% in the first quarter of 2023 compared to the same period last year. #news Full story: https://www.thaipbsworld.com/return-of-foreign-buyers-helping-property-sector-to-grow/ -- © Copyright Thai PBS 2023-06-30 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Link to comment Share on other sites More sharing options...
Enzian Posted June 30, 2023 Share Posted June 30, 2023 This seems to say that the number of purchases ("transfers") by non-citizens increased year-over-year in the first quarter, but the average price per unit fell. I'm renting an 80 sq meter condo near Nana bts that the owner (Asian, but not Chinese) wants to sell at 6.5 mil baht, no takers, doesn't want to lower his asking. I'm not worried I'll have to move. Domestic buyers are holding off probably because of already high household debt, and these ongoing attempts to get top dollar by owners who don't have to sell. Finally, a rate of around 15,000/year (though probably somewhat more), doesn't seem like very many. 1 Link to comment Share on other sites More sharing options...
hotchilli Posted June 30, 2023 Share Posted June 30, 2023 5 hours ago, webfact said: Foreign buyers will fuel growth in Thailand’s property market during the second half of this year Russians possibly, or Chinese moving money. Link to comment Share on other sites More sharing options...
mikebell Posted July 1, 2023 Share Posted July 1, 2023 Imagine what it could be if you could own a house with a garden outright. 1 Link to comment Share on other sites More sharing options...
Puccini Posted July 1, 2023 Share Posted July 1, 2023 On 6/30/2023 at 6:23 AM, Enzian said: ...Finally, a rate of around 15,000/year (though probably somewhat more), doesn't seem like very many. What rate are you referring to? Link to comment Share on other sites More sharing options...
liddelljohn Posted July 1, 2023 Share Posted July 1, 2023 this is total balls the market is down , very few buyers of any type , prices are slipping ,,who writes this trash the TAT ???? 1 Link to comment Share on other sites More sharing options...
Enzian Posted July 2, 2023 Share Posted July 2, 2023 16 hours ago, Puccini said: What rate are you referring to? Sorry, I was not clear. I mean if you extrapolate the number of transfers by foreigners for the first quarter as reported in the article to a full year, you come up with 15K or somewhat more (assuming a constant rate of increase going on) purchases by foreigners this year for the entire country if I've done it right, which doesn't seem like enough. IF their data collection means anything. Link to comment Share on other sites More sharing options...
ozz1 Posted July 2, 2023 Share Posted July 2, 2023 Brought to you by the real estate agents of Thailand trying to boost sales Link to comment Share on other sites More sharing options...
liddelljohn Posted July 2, 2023 Share Posted July 2, 2023 There is an empty 2 Rai plot off Soi Buakao in pattaya was on Sale for 340m Baht now reduced to 288m baht in truth is only worth 70m baht . a similar plot was sold last November for 70m and its only 200m away they are building another soon to be empty hotel on the site . The market for property in Pattaya , Naklua, Jomtien , Bangsarey is DEAD , it was busy last year mainly Chinese , Russians and Thais but now zilch , lots of worried sellers , Link to comment Share on other sites More sharing options...
ThailandRyan Posted July 2, 2023 Share Posted July 2, 2023 The Area around us down south of HH has been in a real-estate boom and have seen many sales. Just in our Mooban alone the last 5 houses available have sold in the past 3 weeks. Across the way they are building 11 new 2 story homes with pools and all 11 have been sold and are going to be completed by the end of the year. Of course this is at a higher price point than many folks are wanting to buy at. Starting price from 9.9 MThb to 25 MThb. Almost all are foreigners from Europe, Sweden, Switzerland and Germany. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now